RMB Is The Ten Largest Payment Currency In International Trade Or Super Us.

< p > < strong > RMB has entered the world's 10 largest payment currencies in three years, surpassing 22 countries, < /strong > < /p >

< p > the global Interbank Financial Telecommunication Association (SWIFT) announced on Thursday (January 23rd) that "a href=" http://sjfzxm.com/news/index_s.asp "RMB" /a "remained on the top 10 payment currencies for second consecutive months. It has surpassed 22 countries in the past three years, namely a href=" http:// sjfzxm.com/news/index_s.asp "> currency < /a >, and has gradually entered the road of becoming an international currency.

< /p >

According to the latest SWIFT report, in December 2013, the market share of RMB accounted for 1.12% of the global payment currency, ranking eighth in the world, and fifteenth in the beginning of last year, and this is obviously higher than the twentieth in January 2012.

< /p >

< p > however, the use of RMB is still concentrated in Hongkong, accounting for 74%.

< /p >

< p > December, the world's top five a href= "http://sjfzxm.com/news/index_s.asp" > payment currency < /a > the US dollar is the highest, the market share is 39.52%, followed by the euro, accounting for 33.21%, others are: 9.13%, Japanese yen 2.56%, and Canadian dollar 1.90%.

< /p >

< p > SWIF reported earlier that in October last year, the use of RMB in trade financing reached 8.66%, exceeding the "a href=" http://sjfzxm.com/news/index_s.asp "euro" /a "and became the second highest currency.

< /p >

< p > related links < /p >

< p > < strong > China ranks the largest trade in the world and the internationalization of RMB > /strong > /p >

< p > just entering 2014, the Ministry of Commerce of China announced in January 10th that the total import and export volume of the mainland for 2013 was $4 trillion and 160 billion.

The key to this figure is that once the US 2013 statistics are released, China is likely to overtake the United States formally and become the world's largest trading nation.

< /p >

After the financial tsunami of P > 2008, the recovery of the world was divided, but the growth of < a href= "http://sjfzxm.com/news/index_s.asp" > trade < /a > was generally not as good as before the tsunami. In the five years from the end of January 2008 to the end of 2012, the total volume of Global trade increased by only 12.89%.

In the past five years, the US performance has been in the middle, increasing by 11.97%, but China has an astonishing 51% growth.

In 2013, the gap widen. Trade grew by 0.5% in the United States last year, while China maintained a 7.58% annual growth rate.

In such a trend, it is not surprising that China took the place of the United States in 2013 to become the world's largest import and export country.

< /p >

< p > just, even if the total value of China's foreign trade continues to be high, it must be clearly realized that under the modern international industrial division and cooperation mode, the aggregate figure can not be shown after all.

This is because the Chinese mainland still relies mainly on processing exports in the global industrial value chain, so the trade in intermediate goods accounts for a large proportion.

Basically, the industrial chain structure of the mainland is very different from that of the United States; therefore, there is a large proportion of repeated calculation; when we see China surpassing the United States and becoming the world's first trading nation, it can not be ignored.

< /p >

< p > however, the rapid growth of China's trade has obviously promoted the internationalization of RMB.

According to SWIFT statistics, the yuan surpassed the euro in October last year and became the second largest trade finance currency in the world. In addition, the RMB exchange rate has risen to eighth in the global daily foreign exchange paction, which is directly related to the rapid rise of the mainland's economy and trade.

< /p >

< p > last year's a href= "http://sjfzxm.com/news/index_s.asp" > Third Plenary Session < /a > reveals that China's mainland will carry out comprehensive and deepening reform.

The financial reform will focus on interest rate liberalization, exchange rate marketization and RMB internationalization, and these reforms will of course complement each other.

When mainland China has become the world's largest trading nation, it also allows the internationalization of RMB policy more appropriately.

< /p >

< p > the risks brought by these reforms are especially noteworthy because of the huge scale of China's economy.

For example, mainland China adopted a monetary tightening policy last year, coupled with the trend of RMB appreciation since the fourth quarter of 2012, resulting in large currency and exchange rate arbitrage space.

Much of the international hot money is borrowed from the current account of the international trade and expenditure, and the trade invoice is used as a conduit for short term capital flowing into China. This also makes the mainland's trade value increase sharply, creating a grey space coexisting with virtual reality.

< /p >

The process of < p > a href= "http://sjfzxm.com/news/index_s.asp" > RMB internationalization < /a > has been on the road of no return at 2014 today.

Since China surpassed Japan as the world's second largest economy in 2010, the global demand for RMB has been increasing.

Whether it is derived from the paction demand of import and export trade, or the financial planning needs that are included in the portfolio, a substantial expansion is seen.

On the policy side, the mainland has also actively pushed the renminbi into the international arena step by step. The signing of various foreign exchange agreements, the opening of offshore renminbi deposits and capital reflux have made considerable progress over the past year.

< /p >

< p > for example, the Bank of Taiwan opened RMB deposit business in February 6th last year. In less than a year, the balance of RMB deposits reached 65 at the end of last year, and 44 billion 400 million of the 57 OBU (international financial business branches) amounted to 182 billion 600 million RMB yuan.

As the largest offshore renminbi center in the world, Hongkong has more than 1 trillion yuan in Renminbi deposits at the end of last year, compared with the size of less than 50 billion yuan in 2009.

< /p >

The main foundation of the trend of internationalization of RMB P is, of course, its economy, especially the development of international trade.

Any currency to become an international currency is bound to be the currency that the importers and exporters are willing to accept and pay when settling trade.

Therefore, besides the consideration of liquidity, the convenience of currency and the stability of price are the key.

From this point of view, China surpassed the United States last December and became the world's largest trading nation. The renminbi surpassed the euro last year to become the second largest international trade settlement currency in the world.

< /p >

RMB P deposits have actually been established in Hongkong for ten years, but in the past two or three years, they have been able to break through the long-term predicament and grow rapidly. The main reason is the breakthrough of RMB reflux.

In the offshore market, after the bank has absorbed the renminbi, if it only pays interest to the depositors, instead of making effective use of the renminbi, it will not be able to sustain a loss in the long run.

Therefore, in the past two years, the opening of various offshore RMB reflux channels has also contributed to the vigorous development of RMB bonds, funds and other financial businesses, and even directly opening offshore renminbi lending business.

< /p >